News tagged with spending

(AP) -- Think you might do better than President Barack Obama and congressional leaders in picking and choosing what government spending to cut - or taxes to raise - to stave off a debt showdown that could wreck the economy? ...

The largest-ever assessment of high-deductible health plans finds that while such plans significantly cut health spending, they also prompt patients to cut back on preventive health care, according to a new RAND Corporation ...

With 180,000 men diagnosed with prostate cancer each year, it is one of the most common types of cancer in the country. For this reason, it has been cited as a good marker for health care spending in general, reflective ...

In its 27th survey of American spending priorities since 1973 conducted as part of its General Social Survey (GSS), NORC at the University of Chicago Wednesday released a report on its most recent findings. By a notable margin, ...

Consumption (economics)

Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally consumption is defined by opposition to production. But the precise definition can vary because different schools of economists define production quite differently. According to some economists, only the final purchase of goods and services constitutes consumption, and every other commercial activity is some form of production. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. "the selection, adoption, use, disposal and recycling of goods and services").

Likewise, consumption can be measured by a variety of different metrics such as energy in energy economics . The total consumer spending in an economy is generally calculated using the consumption function, a metric devised by John Maynard Keynes, which simply takes the aggregate disposable income and multiplies it by a "marginal propensity to consume". This metric essentially defines consumption as the part of disposable income that does not go into savings. But disposable income in turn can be defined in a number of ways - e.g. to include borrowed funds or expenditures from savings.